TORONTO, July 22, 2024 /CNW/ - As previously announced, Aimia Inc. (TSX: AIM) ("Aimia" or the "Company") entered into an agreement with Milkwood Capital (UK) Ltd. ("Milkwood") on July 16, 2024 to purchase for cancellation 1,300,000 of its common shares owned by Milkwood (the "Repurchased Shares") for a price per Repurchased Share corresponding to the lesser of (i) $2.55 (representing 96% of the volume-weighted average price of the common shares of Aimia on the Toronto Stock Exchange (the "TSX") for the 20 trading days ended on July 16, 2024) and (ii) $2.53 (representing 96% of the volume-weighted average price of the common shares of Aimia on the TSX for the 3 trading days ended on July 19, 2024) the date of closing. The transaction was completed following the close of markets on July 19, 2024 and the 1,300,000 Repurchased Shares were repurchased at a price of $2.53 per Repurchased Share, representing an aggregate repurchase price of $3,289,000. The repurchase counts towards the 7,009,622 common shares Aimia is entitled to purchase for cancellation under its normal course issuer bid during the 12-month period beginning on June 6, 2024 and ending June 5, 2025.
About Aimia
Aimia Inc. (TSX: AIM) is a diversified company focused on unlocking the growth potential of its two global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. Headquartered in Toronto, Aimia's priorities include monetizing its non-core investments, returning capital to its shareholders, and efficiently utilizing its loss carry-forwards to create shareholder value.
For more information about Aimia, visit www.aimia.com.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements"), which are based upon Aimia's current expectations, estimates, projections, assumptions and beliefs. All information that is not clearly historical in nature may constitute forward-looking statements. Forward-looking statements are typically identified by the use of terms such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would" and "should", and similar terms and phrases, including references to assumptions.
Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statement will not occur. The forward-looking statements in this press release speak only as of the date hereof and reflect several material factors, expectations and assumptions. Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to the Company can be found in Aimia's current Management's Discussion and Analysis and Annual Information Form, each of which have been or will be filed on SEDAR+ and can be accessed at www.sedarplus.ca. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aimia disclaims any intention and assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Aimia Inc.
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